82.2 F
Clarksville
Tuesday, May 17, 2022
HomeNewsAAA says Gasoline Demand Looking More Seasonal

AAA says Gasoline Demand Looking More Seasonal

AAANashville, TN – AAA reports Tennessee Gas Prices are up five cents compared to last week. Today’s state average is $2.35 which is the same as a month ago, but 14 cents less than last year. 

Likewise, the national average is $2.61, which is one cent more than last week, three cents more than one month ago, but eight cents less than this time last year.

According to AAA, U.S. Gasoline Inventories continue to grow. (AAA)
According to AAA, U.S. Gasoline Inventories continue to grow. (AAA)

“Last week’s data from the Energy Information Administration (EIA) revealed that total domestic stocks of gasoline decreased for the sixth consecutive week and that demand was unseasonably high,” said Stephanie Milani, Tennessee Public Affairs Director, AAA – The Auto Club Group.

“This week’s demand is looking more seasonal and while drives are likely to see continued fluctuation at the pump, major increases are not expected in the week ahead,” Milani stated.

Crude Oil

At the close of Friday’s formal trading session on the NYMEX, WTI increased by nine cents to settle at $57.24. Crude prices have increased this week as a result of increased optimism that China and the U.S. – the world’s two largest crude consumers – are continuing to resolve ongoing trade tensions.

The trade conflict had previously sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries.

Current and Past Price Averages

Regular Unleaded Gasoline

  Monday Sunday Week Ago Month Ago One Year Ago 2018 High Record High
National $2.618 $2.620 $2.608 $2.641 $2.698 $2.97 
(5/26/2018)
$4.11   (7/17/2008)
Tennessee $2.352 $2.357 $2.306 $2.357 $2.491 $2.73 
(5/27/2018)
$4.12   (9/15/2008)
Click here to view current gasoline price averages

Gas Price Survey Methodology

AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

 

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. 

ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile.

Visit AAA on the Internet at AAA.com.

RELATED ARTICLES

Latest Articles